Monthly Archives: September 2014

HBCU Money™ Dozen 9/8 – 9/12

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Did you miss HBCU Money™ Dozen via Twitter? No worry. We are now putting them on the site for you to visit at your leisure. We have made some changes here at HBCU Money™ Dozen. We are now solely focused on research and central bank articles from the previous week.

Research

Solar Growth Beat Out Natural Gas In First Half Of 2014 l Clean Technica http://dlvr.it/6tKbw6

How Apple Pay could make the Target and Home Depot breaches a thing of the past l CSOonlinehttp://bit.ly/1oyeBwp

Help kids learn about saving H2O & energy this school year w/our WS tools l EPA Water http://1.usa.gov/1vYhUVl

Shell Invests In Solar Power-based Enhanced Oil Recovery Technology l Clean Technica http://dlvr.it/6tHvqF

Is there a viable alternative to ubiquitous GPS? l NetworkWorld http://ow.ly/BoTny

5 questions to ask before you take a tech job l Computerworld http://ow.ly/BoVPM

Federal Reserve, Central Banks, & Financial Departments

Did your university teach based on specific job profiles? l World Bank http://wrld.bg/BiVCr

More homeowners retire with outstanding student loan debt l Housing Wire http://hwi.re/6tK5VS

Houston Economic Indicators: Economic conditions in Houston strengthen markedly in July l Dallas Fed http://bit.ly/1nOFs7e

Infrastructure Investment Summit begins to chart course toward mobilizing private capital l Treasury http://go.usa.gov/VdY3

When financial institutions understand the communities in which they operate, they’re more efficient l Boston Fed http://ow.ly/BoYuU

Report: Credit card debt nearing “tipping point” l Housing Wire http://hwi.re/6tFfBk

Thank you as always for joining us on Saturday for HBCU Money™ Dozen. The 12 most important research and finance articles of the week.

The HBCU Money™ Weekly Market Watch

Our Money Matters /\ September 12, 2014

A weekly snapshot of African American owned public companies and HBCU Money™ tracked African stock exchanges.

NAME TICKER PRICE (GAIN/LOSS %)

African American Publicly Traded Companies

Citizens Bancshares Georgia (CZBS) $8.48 (0.00% UNCH)

M&F Bancorp (MFBP) $5.24 (0.00% UNCH)

Radio One (ROIA) $3.13 (0.65% UP)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  248.53 (0.2% DN)

Botswana Stock Exchange (BSE)  9 415.95 (0.02% DN)

Ghana Stock Exchange (GSE)  2 233.70 (4.13% UP)*

Nairobi Stock Exchange (NSE)  159.43 (N/A)

Johannesburg Stock Exchange (JSE) 51 247.71 (0.03% UP)

International Stock Exchanges

New York Stock Exchange (NYSE) 10 893.09 (0.76% DN)

London Stock Exchange (LSE)  3 627.85 (0.18% UP)

Tokyo Stock Exchange (TOPIX)  1 313.72 (0.19% UP)

Commodities

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The HBCUpreneur Corner™ – Norfolk State University’s Harold Blackwell & Chestnut Hollow Farms, LLC

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Name: Harold L. Blackwell

Alma Mater: Norfolk State University

Business Name & Description: Chestnut Hollow Farms, LLC grows hydroponic leafy greens (kale, lettuce, spinach, etc.) and culinary herbs in an indoor controlled environment year round in Fairfield County, CT.

What year did you found your company? In late 2011 and we have been going strong ever since.

What has been the most exciting and/or fearful moment during your HBCUpreneur career? The most exciting moment was when we picked up our first grocery store/wholesale account. It was at that moment the realization set in we were onto something great. My most fearful moment was when it became apparent demand started to outstrip our capacity. A great problem to have, but definitely scary.

What made you want to start your own company? I have always had an ‘entrepreneurial bug’ inside of me. I realized early in life that I wanted to call the shots and not take orders. Obviously you still take orders in some form, but when you own your own business you also control your destiny (for the most part). Based on these internal feelings it was a natural progression to incorporate and do what I enjoy as a business.

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Who was the most influential person/people for you during your time in college? The most influential person was not a professor, but a cousin who was also a HBCU graduate. He explained to me about self-employment and how he built his own real estate empire. My conversations with him helped fill in the gaps of what I did not learn in class. To this day, he is a trusted advisor and has given me gems of wisdom ever since.

How do you handle complex problems? My approach is to always take a step back and make sure I understand all of the facts and think of possible solutions. In each solution, I review whether or not I have accounted for all possible factors (pros and/or cons). Then I do simple benefit analysis and choose my solution.

What is something you wish you had known prior to starting your company? To not delay starting my business because I assumed more money was needed. It was quite the opposite.

What do you believe HBCUs can do to spur more innovation and entrepreneurship while their students are in school either as undergraduate or graduate students? More incubators on campus and partnerships with innovative, private companies looking for the next biggest/best idea.

African American farmland ownership is at an all-time low controlling only 0.4% of America’s farmland. What do you believe HBCUs can do to reverse this trend? I believe HBCUs can help reverse the trend by purchasing farmland and build out beginning/new farmer programs on the purchased farmland. Ideally this would create new African American farmers. The hope would be for these new farmers to eventually move on to purchase additional farmland.

How do you deal with rejection? Constructively. It forces you to rethink your strategy and approach to certain tasks.

When you have down time how do you like to spend it? I spend my down time either reading or doing some farm related activity. I also maintain a day job so these activities serve to relax my mind and spirit.

What was your most memorable HBCU memory? Oh wow, there are so many to choose from! I would have to say graduating. My mother, father, brother, aunt, and some friends were there to show support. One of my proudest days.

In leaving is there any advice you have for budding HBCUpreneurs? Read and be open to ideas that do not necessarily align with your thinking. I believe these factors help you think outside of the proverbial box. Read current events and anything that interests you. Especially books/periodicals related to your industry or a field you wish to become establish a business.

African America’s August Jobs Report – 11.4%

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Overall Unemployment: 6.1% (6.2%)

African America Unemployment: 11.4% (11.4%)

Latino America Unemployment: 7.5% (7.8%)

European America Unemployment: 5.3% (5.3%)

Asian America Unemployment: 4.5% (4.5%)

Previous month in parentheses.

Analysis: The overall unemployment rate dropped 10 basis points. Unemployment rates for African, Asian, and European America went unchanged. Latino America saw its unemployment rate drop 30 basis points. African America remains the only group with double digit unemployment.

African American Male Unemployment: 10.8% (11.1%)

African American Female Unemployment: 10.6% (10.1%)

African American Teenage Unemployment: 32.8% (34.9%)

African American Male Participation: 67.3% (68.0%)

African American Female Participation: 61.5% (62.3%)

African American Teenage Participation: 25.9% (25.3%)

Previous month in parentheses.

Analysis: African American males saw their unemployment rate drop 30 basis points and participation rate drop 70 basis points. African American females unemployment rate rose 50 basis points and participation rate drop 80 basis points. African American teenagers unemployment rate dropped 210 basis points and participation rate rose by 60 basis points.

CONCLUSION: The overall economy added 142 000 jobs in August. A significant disappointment from most economist estimates. After 3 straight months of job growth for African America, the growth came to a bruising halt in August with a loss of 76 000 jobs. No group suffered more than African American women who loss 155 000 jobs dropping to their second lowest number of employed over the past 5 months. A disturbing notion since African American women continue to be the cornerstone of the economic health for African American families. Despite the losses, the number of African Americans employed and participation rate are both still the second highest they have been in the past 5 months. The real question is whether this is the start of a trend downward for African America or just a temporary blip. It would take 291 000 jobs to get the African American unemployment rate to 9.9 percent.

HBCU Money™ Business Book Feature – The Millionaire Real Estate Agent

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Take Your Real Estate Career to the Highest Level!

“Gary Keller knows the beauty of a simple path to a spectacular goal! Whether you are just getting started or a veteran in the business, The Millionaire Real Estate Agent is the step-by-step handbook for seeking excellence in your profession and in your life.”

–Mark Victor Hansen, Co-creator, #1 New York Times best-selling series Chicken Soup for the Soul, Co-author, The One Minute Manager

“This book presents a new paradigm for real estate and should be required reading for real estate professionals everywhere.”

–Robert T. Kiyosaki, New York Times best-selling author of Rich Dad, Poor Dad

“In The Millionaire Real Estate Agent, Gary Keller’s positive influence on the careers of so many agents is encapsulated for all to enjoy and utilize.”

–Howard Brinton, Founder and CEO, Star Power Systems, Inc

“Gary Keller understands that to become a real millionaire, it starts with a a change in your thinking. You must treat your business like a business with a focus on long-term profitability.”

–Brian Buffini, President and Founder, Providence Systems, Inc.

Anyone who wants to turn their real estate practice into a highly successful business must understand the fundamental models that drive the best real estate agents in the industry. In The Millionaire Real Estate Agent these models are revealed and explained. This book represents the culmination of decades of real estate experience, research, and consulting, with case studies from some of the top millionaire agents in the U.S.

In this revolutionary handbook you’ll learn:

  • Three key concepts that drive mega-agent production.
  • Essential economic, budgetary, organizational, and lead generation models that are the foundations of any high-achiever’s business.
  • The distinguishing characteristic of Millionaire Real Estate Agents–the way they think!
  • How you can get on the real estate career path to “Earn a Million,” “Net a Million,” and then “Receive a Million” dollars in annual income.

The Millionaire Real Estate Agent is not about quick fixes. It is about the innovative application of proven business techniques to the real estate industry. Isn’t it about time you put your career on the path to becoming a Millionaire Real Estate Agent?